2401 Charlotte Ave - Self-Storage Facilities FOR SALE


Elkhart, IN 46517
$980,000 USD
303-317-4221
2401 Charlotte Ave, Elkhart, IN for Sale
$980,000 USD
Self-Storage Facilities - FOR SALE
1/4
null | Request Cap Rate

2401 Charlotte Ave
Elkhart, IN 46517


HIGHLIGHTS

  • New development opportunity in Elkhart, Indiana
  • 76,120 NRSF - 542 units permitted to be completed
  • Supply/demand study shows the trade area is undersupplied by 275,000 SF in a 5-mi radius and 150,000 SF is a 3-mi radius
  • 5-Mile Average Household Income = $72,836 (projected to be $83,305 in 2028)

OVERVIEW

This is a turnkey development that encompasses two phases on approximately 5 acres. The site is located on Charlotte Avenue just west of St. Rd. 19 which is the main north/south artery in Elkhart. All approvals and entitlements are in place for the entire project which is slated for 76,120 rentable square feet. The first phase has all site work completed (grading, drainage, fencing, gate & keypads, etc.), is completely fenced and has two buildings erected (6,000 SF). Paving of the drive lanes has not been done. The remainder of the first phase calls for another 22,920 square feet to be erected for a total of 28,920 SF. Grading, drainage and paving will need to be completed for phase II and the fence will need to be expanded out from phase I. The second phase plans for another 47,200 SF for a total of 76,120 SF. This is a great opportunity to fast track the completion of a ground-up development without all the usual constraints of a self-storage development (site acquisition, zoning & approvals, site layout, initial grading, drainage, etc.). The first phase can quickly be completed and lease-up started as phase II is being worked on.

FOR SALE DETAILS

PRICE

$980,000 USD

PRICE/SF

$13 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Iron Fox Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

15.02 AC

LAND SF

654,457 SF

ZONING

-

APN/PARCEL ID

20-05-24-276-015.000-002

ASK ABOUT THIS PROPERTY

Amy HitchinghamArgus Self Storage AdvisorsMore Info
303-317-4221

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Amy HitchinghamArgus Self Storage AdvisorsMore Info
303-317-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.